KUALA LUMPUR: The ringgit closed sharply higher against the US dollar today on the back of the stronger 5.9% economic growth recorded in 2017, a dealer said.

At 6pm, the local note strengthened against the greenback to 3.9170/9210 from 3.9370/9400 on Tuesday.

Malaysia’s gross domestic product jumped by 5.9% in 2017 against 4.2% in 2016 while current account surplus widened slightly to RM12.9 billion in the fourth quarter last year, accounting for 3.7% of gross national income.

The ringgit also stronger against a basket of major currencies.

It appreciated against the Singapore dollar to 2.9654/9705 from Tuesday’s 2.9760/9792 and rose against the yen to 3.6441/6488 from 3.6569/6600 yesterday.

The local unit increased against the British pound to 5.4325/4400 from 5.4653/4715 yesterday and went up against the euro to 4.8383/8444 from 4.8476/8517 on Tuesday. — Bernama